Archive – Banking & Fintech

G20 leaders agree on global recovery plan

This content was published on Apr 2, 2009 In a clampdown on banking secrecy, countries meeting at a G20 summit in London also agreed to new lists of problem tax havens – one of which includes Switzerland. The Organisation for Economic Co-operation and Development (OECD) divided countries into three list categories of “white”, “grey” and “black”: those who comply with rules on sharing…

Transport

This content was published on Apr 2, 2009

Divided G20 puts on united front

This content was published on Apr 2, 2009 But as the G20 summit drew to a close, host Britain conceded there was still unresolved business. Germany and France are demanding concrete measures on tax havens, hedge funds and markets rather than promises of action. Paris and Berlin, fearing the summit would fall short of the mark on regulation of tax havens, hedge funds…

Swiss Re to cut workforce by ten per cent

This content was published on Apr 2, 2009 The group, which at present employs more than 11,500 people, said the move would allow it to save SFr400 million ($349 million) by the end of next year. The Zurich-based company also said it had appointed Agostino Galvagni as its chief operating officer, beginning May 1. The company replaced its chief executive officer, Jacques Aigrain,…

No clear consensus at G20 summit, warns expert

This content was published on Apr 1, 2009 Cédric Dupont, professor of political science at Geneva’s Graduate Institute, tells swissinfo that consensus is lacking on specific issues and warns a vague final declaration could seriously damage its credibility. Leaders from the world’s 20 biggest economies are due to meet in the British capital on Thursday to discuss how better regulation, help for international…

Financial regulator defends tough decisions

This content was published on Mar 31, 2009 The newly-created Swiss Financial Market Supervisory Authority (Finma) said on Tuesday it had acted swiftly in international comparison to deal with the financial crisis, but admitted it had missed warning signs. The regulator incurred public scepticism earlier this year by approving the release of confidential client data from UBS to the United States authorities and…

Migros checks out well in 2008

This content was published on Mar 31, 2009 The company, which includes grocery stores, banks, electronics shops and other divisions, said on Tuesday that turnover for the group as a whole jumped 13.5 per cent in 2008 to SFr25.75 billion. The increase is thanks largely to an upturn in retail sales that amounted to SFr21.6 billion. The company’s earnings before interest and taxes…

Julius Bär picks new CEO from internal ranks

This content was published on Mar 31, 2009 Boris Collardi, who currently serves as the bank’s chief operating officer, will take the helm on May 1. Johannes de Gier has been the bank’s acting CEO and will now continue his role as chairman of the company’s hedge fund arm. Collardi, who was born in 1974, assumes the leadership role at a critical time…

Current Affairs

This content was published on Mar 30, 2009

UBS and top manager part company

This content was published on Mar 29, 2009 Martin Liechti was head of wealth management Americas, and was not allowed to leave the US for several months last year after being called to testify before a Senate hearing investigating charges that UBS staff helped wealthy clients evade tax. Liechti refused to answer questions regarding former UBS employee, Bradley Birkenfeld, who was arrested and…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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G20 leaders agree on global recovery plan

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Transport

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Divided G20 puts on united front

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Swiss Re to cut workforce by ten per cent

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No clear consensus at G20 summit, warns expert

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Financial regulator defends tough decisions

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Migros checks out well in 2008

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Julius Bär picks new CEO from internal ranks

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Current Affairs

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UBS and top manager part company

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